Palm Bay Bankruptcy Attorney & Brevard County Bankruptcy Attorney

Financial Problems? Consult a Palm Bay Bankruptcy Lawyer.

The first step to take when considering bankruptcy is to consult with a Palm Bay bankruptcy lawyer. Palm Bay bankruptcy attorneys offer a free initial consultation, so you'll be able to speak with the attorney, discuss your financial problems and explore debt solutions. Bankruptcy laws allow you to eliminate debt and your Brevard County Bankruptcy Attorney will explain how this can work for you.

You may hear commercials for other methods of debt assistance from individuals or businesses in the State of Florida who are not bankruptcy law firms. Commercials offering debt consolidation, debt settlements, short sales, and credit card debt reduction run on Palm Bay radio stations such as WWBC, WTTB, WPGS, Wint and WMEL and Brevard County television channels such as TYG Media, Wmie, Wesh, WFTV.

Be careful of offers from unlicensed companies. Get your debt advice from a Palm Bay Debt Relief Law Firm and an experienced Palm Bay Bankruptcy Attorney.

What if I can't afford a Palm Bay bankruptcy attorney?

If you're going to be filing a Ch. 7 bankruptcy, some Palm Bay attorneys will allow you to make payments over a period of time until your fee is paid in full. Most Palm Bay bankruptcy attorneys will not file your Chapter 7 case until the fee has been paid.

In other chapters of bankruptcy, such as Chapter 13, Chapter 11, and Chapter 12, part of the legal fees are paid before filing the case with the court and the balance of the legal fees are included in the bankruptcy plan. This means you will be paying your attorney fees as part of the plan payments. This is a good option if you cannot afford to pay your attorney before you file your bankruptcy case.

There are set filing fees that are set by the United States Bankruptcy Courts. Currently the filing fees are:

Is there a cheaper option than using a Palm Bay bankruptcy lawyer?

When people find themselves with financial problems — a pending foreclosure, garnishment, and/or repossession — they might wonder whether it would be cheaper to hire a non-attorney such as a bankruptcy paralegal or a bankruptcy petition preparer. While these para-professionals, as they are known, can be skilled and knowledgeable about bankruptcy, they do not have the same legal education and training as an attorney.

A very important reason against hiring a non-attorney is that non-attorneys are prohibited by law from offering legal advice (this is known as unauthorized practice of law). Don't make your financial problems worse by putting yourself in a situation where you have no one to ask questions. Consult with a Palm Bay Bankruptcy Attorney who will answer your questions and help you reduce or eliminate your debt.

Can I represent myself in a bankruptcy case? Can I represent myself in court?

Yes. But if the cost of legal fees is the main or only reason you want to represent yourself, consider this: when Congress amended the Bankruptcy Code in 2005 they made it more complicated and mistakes now have greater consequences.

A do-it-yourself bankruptcy may seem to save you money at the beginning of the bankruptcy process. But understand that if you make a mistake in your DIY bankruptcy and don't know how to protect your rights, you could lose some of your property in an amount far greater than what legal fees would have cost.

Do you know enough about the bankruptcy system to adequately represent yourself?

Take this simple test — the terms below are some of the most basic terms used in the various chapters of bankruptcy cases. How many do you know or understand?

(  )  Petition
(  )  Debtor
(  )  Co-Debtor
(  )  Automatic Stay
(  )  Exemptions
(  )  Palm Bay Credit Counseling Agencies
(  )  Proof of Claim
(  )  Means Test
(  )  Disposable Income
(  )  Property Values
(  )  Secured or Unsecured
(  )  Presumption of Abuse
(  )  341 Hearing
(  )  Objections to Claims
(  )  Discharge

Filling out bankruptcy forms.

You might have been told that bankruptcy is nothing more than filling out forms. There are a lot of forms to fill out in a Palm Bay bankruptcy case, but unlike the 1040-EZ federal income tax form which can be used by individuals with simple financial circumstances there is no "EZ" form in the bankruptcy forms.

Each Palm Bay bankruptcy case commences with the filing of a petition. Accompanying the petition are schedules, statements, forms, and supporting documentation. Here is a list of documents that would be filed by a Brevard County resident in a typical Palm Bay Chapter 7 bankruptcy case:

• Petition (indicating the chapter under which the case is being filed)
• Summary of Schedules and Statistical Summary with Declaration Concerning Debtor's Schedules
• Schedule A - list of Real Property
• Schedule B - list of Personal Property
• Schedule C - Claim of Exemptions (this protects certain property according to amounts set forth in Florida law)
• Schedules D, E, and F - lists of debts
• Schedule G - list of executory contracts and leases
• Schedule H - list of co-debtors
• Schedules I and J - monthly income and expenses
• Statement of Financial Affairs - a detailed list of questions that must be completed by all debtors
• Debtor's Statement of Intention - surrendering, reaffirming, redeeming secured debts?
• Means Test
• Supporting documents: pay advices, bank statements, tax returns, etc. (varies, depending on the local rules of the Bankruptcy Court)

What could go wrong?

An experienced Palm Bay Bankruptcy Lawyer will give their clients a list of information and documentation that needs to be provided. When a Palm Bay resident attempts to represent themselves in a bankruptcy case they make these same assumptions, but there is no qualified Palm Bay Bankruptcy Lawyer to advise them and set them on the correct course. Here are some examples of common mistakes resulting from making assumptions:

► Not listing ALL creditors because you want to keep a particular credit card or you owe money to a relative and want to pay them back or don't want to tell them about the bankruptcy. There is a specific statute in the bankruptcy code regarding penalties for persons who negligently or fraudulently prepare bankruptcy petitions.

► Not listing ALL assets. This is more likely an honest mistake rather than an attempt to conceal assets.

► Not properly listing or applying allowed exemptions.

► Listing your expenses on Schedule J in amounts you feel you the court would approve, rather than the actual amounts spent each month.

► Over-valuing your personal property.

What Can You Do to Help Your Own Bankruptcy Case?

Consult with and hire an experienced Palm Bay Bankruptcy Law Firm or Attorney.

Even if you read through the federal bankruptcy code and feel you have learned enough about the federal code to represent yourself, there are 94 federal judicial districts that handle bankruptcy matters and each district will have its own set of local bankruptcy rules. Additionally, it is not uncommon for the individual judges within each district to also have their own set of rules for their bankruptcy courtrooms. Brevard County Bankruptcy Attorneys are experienced with the local rules of the bankruptcy court and the bankruptcy judges.

Start putting together an accurate valuation of your property.

It can be difficult to estimate the value of your personal property. The court will want to know the value the item could be sold for as of the date of filing, not what it would cost to replace it. Pawn shops and second-hand stores are good sources for getting property values:

Get your tax returns filed

If you have had income for the past few years and have not filed all of your income tax returns, you will be required to do so in order to file for bankruptcy. Contact a local tax return specialist for assistance with filing your returns:

Rodney S. White CPA Firm
4650 Lipscomb Street NE, Suite 20, Palm Bay, FL 32905
(321) 728-9366

All-Star Insurance
4961 Babcock Street NE, Palm Bay, FL 32905
(321) 728-2700

Burner Barbara CPA
2060 Palm Bay Road, Palm Bay, FL 32905
(321) 723-3151

If you are a do-it-yourself tax preparer, then visit the website for the Internal Revenue Service to obtain the necessary tax forms.

What NOT to do:

Don't transfer assets; don't give things away; don't put your spouse's or kids' names on titles; don't sell stuff and put the cash under your mattress. Don't try to outsmart the system. These "creative" financial maneuvers are all covered in questions on one of the bankruptcy forms called the "Statement of Financial Affairs." This bankruptcy form asks for answers about your financial transactions going back 2, 5 and even 10 years!

It's best to speak with a Palm Bay Bankruptcy Attorney about your situation and receive educated advice about the best course of action you should take. It will also keep you from potentially getting into trouble with the bankruptcy court.

Consult Palm Bay Bankruptcy Lawyers serving Brevard County and the Surrounding Areas

Serving clients throughout Eastern Florida, including Aurora, Indialantic, June Park, Malabar, Melbourne, Melbourne Beach, Melbourne International, Melbourne Village, Palm Bay, Patrick AFB, West Melbourne, and other communities in Brevard County.

Bankruptcy laws are designed to give you debt relief. Contact a Palm Bay Bankruptcy Attorney for a free initial consultation and learn how you can get help with your financial problems.